hello, ive by no means introduced any crypto earlier than however i used to be informed that i can purchase some Bitcoin so i did. is there something that i ought to look out for or pay attention to earlier than i begin shopping for month-to-month?
hello, ive by no means introduced any crypto earlier than however i used to be informed that i can purchase some Bitcoin so i did. is there something that i ought to look out for or pay attention to earlier than i begin shopping for month-to-month?
WassaWassaWassup! Scam Alert! Scammers are particularly active on this sub. They operate via private messages and private chat. If you receive private messages, be extremely careful. Use the **report** link to report any suspicious private message to Reddit.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/BitcoinBeginners) if you have any questions or concerns.*
Never leave your bitcoin on exchanges.
Buy a hardware wallet like Ledger or Trezor and transfer it there.
There are a lot of youtube tutorials
Learn about self custody of your crypto
If you haven’t already, read the FAQ:
https://www.reddit.com/r/BitcoinBeginners/comments/g42ijd/faq_for_beginners/
In general, bitcoin is new and different to other things you have dealt with. Knowledge is power. Your goal for now should be to learn how to hold and secure your own keys. This is one of the biggest advantages of Bitcoin, and it’s not that difficult.
You need to beware that there are A LOT of scammers in the crypto world. It’s unfortunate, but it’s the truth.
Spend at least half an hour researching the different scams they will use to try to steal your crypto. Everyone thinks it won’t happen to them, until it does. In the past couple months there have been multiple posts on r/cryptocurrency that had good lists of the different scams that are used. Just do a search on that sub and you should be able to find them.
Do not respond to anybody who sends you a DM. Consider them to all be scammers. They will target people who are new and pretend to help them buy or invest, but it’s ALWAYS a scam. If you have more questions later, check the FAQ, search this sub, or ask here if you can’t find the answer anywhere.
**Step 1 Setup a wallet** , and backup your words to keep them secret and private.
Read the FAQ – https://www.reddit.com/r/BitcoinBeginners/comments/g42ijd/faq_for_beginners/
Here are some good wallets for beginners and video tutorials-
**Blockstream Green Wallet** IOS and android wallet
https://www.youtube.com/watch?v=uO3Zi9D5b0Y
https://blockstream.com/green/
**Step 2 Buy BTC and transfer it to your personal wallet**- If you are in the USA than the best way to buy BTC is with strike.me app –
Verification either is instant or can take a couple days once you verify your phone, email and ID.
If you need BTC slightly quicker or need to pay in cash than https://coinatmradar.com but fees are at least 7% and higher
If you are out of the US or buying larger amounts of bitcoin than look into coinbase pro, gemini active trader , or kraken
Let us know if you have any other questions
Be aware that bitcoin is in a class by itself, and that ‘crypto’ is an umbrella term used to legitimize scammy centralized products by association. Only bitcoin is a truly decentralized peer to peer network with no governing authority. Only bitcoin is truly legit and eventually the other ‘cryptos’ will fall to the wayside.
Learn about the technology and history of bitcoin to build your confidence in it.
Learn about opsec and seed storage. Start with an open source bitcoin-only phone wallet (Blockstream Green, BlueWallet), then move to a hardware wallet when you have thousands of $ worth.
With a hardware wallet, use a complex passphrase wallet (4 random words), and store the passphrase in a separate location, for ultimate security. Use the non-passphrase base wallet as your decoy wallet. This will make sense once you use it.
> i was told that i should buy some Bitcoin so i did
Why so naive?